Kuwait-based communication company MTC may pullout of the competition over the third mobile phone operation license in Egypt, which is due to start on Tuesday. The news has not been denied by Mohammed Eid, the company's Cairo office manager who said the circumstances surrounding the deal perhaps would hike up auction prices to extreme levels far beyond the financial capacity of MTC. He added that his company might pullout from the auction by submitting low offers compared to other competitors and go out of the auction in its early stages. However, Eid ruled out that his company would announce the pullout in the media to protect MTC's interests in the international markets. The company plans to hold a press conference to explain its position towards the deal. MTC leads an alliance including the Egyptian Financial Group-Hermes in the competition. Other alliances include those led by UAE-based Etisalat, Egypt Telecom, and Telenor. Two rival alliances went out during the technical assessment phase. MTC is the largest private sector telecom investor in the African continent, with total investments of more than $5 billion in fourteen countries. NOOZZ
